31 U.s.c. 5316

§ 5315

TITLE 31—MONEY AND FINANCE

(3) the identity of real parties in interest.
(4) a description of the transaction.
(b) The Secretary may prescribe—
(1) a reasonable classification of persons subject to or exempt from a requirement under
this section or a regulation under this section;
(2) a foreign country to which a requirement
or a regulation under this section applies if
the Secretary decides applying the requirement or regulation to all foreign countries is
unnecessary or undesirable;
(3) the magnitude of transactions subject to
a requirement or a regulation under this section;
(4) the kind of transaction subject to or exempt from a requirement or a regulation
under this section; and
(5) other matters the Secretary considers
necessary to carry out this section or a regulation under this section.
(c) A person shall be required to disclose a
record required to be kept under this section or
under a regulation under this section only as required by law.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 997.)
HISTORICAL AND REVISION NOTES
Revised
Section

Source (U.S. Code)

5314(a) .....

31:1121(a).

5314(b) .....
5314(c) .....

31:1122.
31:1121(b).

Source (Statutes at Large)
Oct. 26, 1970, Pub. L. 91–508,
§§ 241, 242, 84 Stat. 1124.

Page 384

(1) moving mobile capital can have a significant impact on the proper functioning of the
international monetary system;
(2) it is important to have the most feasible
current and complete information on the kind
and source of capital flows, including transactions by large United States businesses and
their foreign affiliates; and
(3) additional authority should be provided
to collect information on capital flows under
section 5(b) of the Trading With the Enemy
Act (50 App. U.S.C. 5(b)) and section 8 of the
Bretton Woods Agreement Act (22 U.S.C. 286f).
(b) In this section, ‘‘United States person’’ and
‘‘foreign person controlled by a United States
person’’ have the same meanings given those
terms in section 7(f)(2)(A) and (C), respectively,
of the Securities and Exchange Act of 1934 (15
U.S.C. 78g(f)(2)(A), (C)).
(c) The Secretary of the Treasury shall prescribe regulations consistent with subsection (a)
of this section requiring reports on foreign currency transactions conducted by a United States
person or a foreign person controlled by a
United States person. The regulations shall require that a report contain information and be
submitted at the time and in the way, with reasonable exceptions and classifications, necessary
to carry out this section.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 997.)
HISTORICAL AND REVISION NOTES
Revised
Section

In subsection (a), before clause (1), the words ‘‘currency or other’’, ‘‘legitimately’’, ‘‘by regulation’’, and
‘‘directly or indirectly’’ are omitted as surplus. The
words ‘‘for any person’’ are substituted for ‘‘on behalf
of himself or another’’ to eliminate unnecessary words.
The words ‘‘and to the extent’’ are substituted for ‘‘and
in such detail’’ for clarity. In clauses (1) and (2), the
words ‘‘participants’’ and ‘‘participant’’ are substituted
for ‘‘parties’’ for consistency. In clause (2), the words
‘‘to the transaction or relationship’’ are omitted as surplus. In clause (3), the words ‘‘if one or more of the parties are not acting solely as principals’’ are omitted as
surplus. In clause (4), the words ‘‘including the
amounts of money, credit, or other property involved’’
are omitted as surplus.
In subsection (b), the words ‘‘or a regulation under
this section’’ are added because of the restatement. The
words ‘‘or does not apply’’ and ‘‘uniform’’ in clause (2)
are omitted as surplus. In clause (5), the words ‘‘carry
out’’ are substituted for ‘‘the application of’’ for consistency.
In subsection (c), the words ‘‘produce or otherwise
. . . the contents of’’ and ‘‘in compliance with a subpena or summons duly authorized and issued or . . .
may otherwise be’’ are omitted as surplus. The words
‘‘under a regulation’’ are added because of the restatement.

In subsection (a)(3), the words ‘‘it is desirable to emphasize this objective . . . existing legal’’ are omitted
as unnecessary.
In subsection (c), the words ‘‘(hereafter referred to as
the ‘Secretary’)’’ are omitted because of the restatement. The words ‘‘under the authority of this subchapter and any other authority conferred by law’’ are
omitted as surplus. The word ‘‘prescribe’’ is substituted
for ‘‘supplement’’ for clarity. The words ‘‘the statement of findings under’’ and ‘‘the submission of’’ are
omitted as surplus. The words ‘‘Reports required under
this subchapter shall cover foreign currency transactions’’ are omitted because of the restatement. The
words ‘‘such terms are’’ and ‘‘the policy of’’ are omitted as surplus.

COMPLIANCE WITH REPORTING REQUIREMENTS

§ 5316. Reports on exporting and importing monetary instruments

Pub. L. 107–56, title III, § 361(b), Oct. 26, 2001, 115 Stat.
332, provided that: ‘‘The Secretary of the Treasury
shall study methods for improving compliance with the
reporting requirements established in section 5314 of
title 31, United States Code, and shall submit a report
on such study to the Congress by the end of the 6month period beginning on the date of enactment of
this Act [Oct. 26, 2001] and each 1-year period thereafter. The initial report shall include historical data on
compliance with such reporting requirements.’’

§ 5315. Reports on foreign currency transactions
(a) Congress finds that—

Source (U.S. Code)

5315(a) .....

31:1141.

5315(b),
(c).

31:1142.

Source (Statutes at Large)
Sept. 21, 1973, Pub. L. 93–110,
§§ 201, 202, 87 Stat. 353.

REFERENCES IN TEXT
Section 5(b) of the Trading With the Enemy Act, referred to in subsec. (a)(3), is also classified to section
95a of Title 12, Banks and Banking.

(a) Except as provided in subsection (c) of this
section, a person or an agent or bailee of the
person shall file a report under subsection (b) of
this section when the person, agent, or bailee
knowingly—
(1) transports, is about to transport, or has
transported, monetary instruments of more
than $10,000 at one time—
(A) from a place in the United States to or
through a place outside the United States;
or

Page 385

(B) to a place in the United States from or
through a place outside the United States;
or
(2) receives monetary instruments of more
than $10,000 at one time transported into the
United States from or through a place outside
the United States.
(b) A report under this section shall be filed at
the time and place the Secretary of the Treasury prescribes. The report shall contain the following information to the extent the Secretary
prescribes:
(1) the legal capacity in which the person filing the report is acting.
(2) the origin, destination, and route of the
monetary instruments.
(3) when the monetary instruments are not
legally and beneficially owned by the person
transporting the instruments, or if the person
transporting the instruments personally is not
going to use them, the identity of the person
that gave the instruments to the person transporting them, the identity of the person who is
to receive them, or both.
(4) the amount and kind of monetary instruments transported.
(5) additional information.
(c) This section or a regulation under this section does not apply to a common carrier of passengers when a passenger possesses a monetary
instrument, or to a common carrier of goods if
the shipper does not declare the instrument.
OF
CLOSELY
RELATED
(d)
CUMULATION
EVENTS.—The Secretary of the Treasury may
prescribe regulations under this section defining
the term ‘‘at one time’’ for purposes of subsection (a). Such regulations may permit the cumulation of closely related events in order that
such events may collectively be considered to
occur at one time for the purposes of subsection
(a).
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 998; Pub.
L. 98–473, title II, § 901(c), Oct. 12, 1984, 98 Stat.
2135; Pub. L. 99–570, title I, § 1358, title III, § 3153,
Oct. 27, 1986, 100 Stat. 3207–26, 3207–94.)
HISTORICAL AND REVISION NOTES
Revised
Section

§ 5317

TITLE 31—MONEY AND FINANCE

Source (U.S. Code)

5316(a) .....

31:1101(a).

5316(b) .....
5316(c) .....

31:1101(b).
31:1101(c).

Source (Statutes at Large)
Oct. 26, 1970, Pub. L. 91–508,
§ 231, 84 Stat. 1122.

In subsection (a), before clause (1), the words ‘‘a person or an agent or bailee of the person shall’’ are substituted for ‘‘whoever, whether as principal, agent, or
bailee, or by an agent or bailee’’ for consistency. The
words ‘‘or reports’’ are omitted as unnecessary because
of 1:1. In clause (2), the words ‘‘transported into the
United States’’ are substituted for ‘‘at the termination
of their transportation to the United States’’ for consistency and to eliminate unnecessary words.
In subsection (b), before clause (1), the word ‘‘required’’ is omitted as surplus. The word ‘‘prescribes’’ is
substituted for ‘‘require’’ for consistency in the revised
title and with other titles of the United States Code.
The words ‘‘to the extent’’ are substituted for ‘‘in such
detail’’ for clarity. In clause (1), the words ‘‘with respect to the monetary instruments transported’’ are
omitted as surplus. In clause (3), the words ‘‘or if the
person transporting the instruments personally is not

going to use them’’ are substituted for ‘‘or are transported for any purpose other than the use in his own
behalf of the person transporting the same’’ for clarity.
In subsection (c), the words ‘‘or a regulation under
this section’’ are added because of the restatement.
AMENDMENTS
1986—Subsec. (a)(1). Pub. L. 99–570, § 1358(b), substituted ‘‘transports, is about to transport, or has
transported’’ for ‘‘transports or has transported, or attempts to transport or have transported’’.
Subsec. (a)(2). Pub. L. 99–570, §§ 1358(c), 3153, made
identical amendments substituting ‘‘$10,000’’ for
‘‘$5,000’’.
Subsec. (d). Pub. L. 99–570, § 1358(a), added subsec. (d).
1984—Subsec. (a)(1). Pub. L. 98–473 inserted ‘‘, or attempts to transport or have transported,’’ after ‘‘transports or has transported’’ and substituted ‘‘$10,000’’ for
‘‘$5,000’’.
EFFECTIVE DATE OF REGULATIONS PRESCRIBED UNDER
1986 AMENDMENT
Section 1364(d) of Pub. L. 99–570 provided that: ‘‘Any
regulation prescribed under the amendments made by
section 1358 [amending this section] shall apply with respect to transactions completed after the effective date
of such regulation.’’

§ 5317. Search and forfeiture of monetary instruments
(a) The Secretary of the Treasury may apply
to a court of competent jurisdiction for a search
warrant when the Secretary reasonably believes
a monetary instrument is being transported and
a report on the instrument under section 5316 of
this title has not been filed or contains a material omission or misstatement. The Secretary
shall include a statement of information in support of the warrant. On a showing of probable
cause, the court may issue a search warrant for
a designated person or a designated or described
place or physical object. This subsection does
not affect the authority of the Secretary under
another law.
(b) SEARCHES AT BORDER.—For purposes of ensuring compliance with the requirements of section 5316, a customs officer may stop and search,
at the border and without a search warrant, any
vehicle, vessel, aircraft, or other conveyance,
any envelope or other container, and any person
entering or departing from the United States.
(c) FORFEITURE.—
(1) CRIMINAL FORFEITURE.—
(A) IN GENERAL.—The court in imposing
sentence for any violation of section 5313,
5316, or 5324 of this title, or any conspiracy
to commit such violation, shall order the defendant to forfeit all property, real or personal, involved in the offense and any property traceable thereto.
(B) PROCEDURE.—Forfeitures under this
paragraph shall be governed by the procedures established in section 413 of the Controlled Substances Act.
(2) CIVIL FORFEITURE.—Any property involved in a violation of section 5313, 5316, or
5324 of this title, or any conspiracy to commit
any such violation, and any property traceable
to any such violation or conspiracy, may be
seized and forfeited to the United States in accordance with the procedures governing civil
forfeitures in money laundering cases pursuant to section 981(a)(1)(A) of title 18, United
States Code.